MARKET CLOSE NZ shares drop on Cyprus uncertainty, Pumpkin Patch result

Mon, 18 Mar 2013

March 18 (BusinessDesk) – New Zealand shares fell as risk appetite worldwide was rattled by events in Cyprus and after retailer Pumpkin Patch said inventory disruptions and tough trading hurt sales in its first half. The NZX 50 Index fell 46.031 points, or 1.1 percent, to 4341.024. Within the index, 34 stocks fell, nine rose and seven were unchanged. Turnover was $98 million. Shares fell across the Asia-Pacific region amid concern an EU bailout plan for Cyprus that would clip Cypriot depositors’ funds could spark a run on banks in nearby nat...

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